Albemarle Corp. [NYSE: ALB] stock went on an upward path that rose over 4.38% on Thursday, amounting to a one-week price increase of more than 16.64%. The company report on February 22, 2024 at 4:39 PM that Albemarle Announces Quarterly Dividend.
The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly dividend of $0.40 per share. The dividend, which has an annualized rate of $1.60, is payable April 1, 2024, to shareholders of record at the close of business as of March 15, 2024.
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Over the last 12 months, ALB stock dropped by -45.79%. The one-year Albemarle Corp. stock forecast points to a potential upside of 6.97. The average equity rating for ALB stock is currently 2.07, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $16.18 billion, with 117.36 million shares outstanding and 117.06 million shares in the current float. Compared to the average trading volume of 3.07M shares, ALB stock reached a trading volume of 4561330 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Albemarle Corp. [ALB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALB shares is $148.18 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALB stock is a recommendation set at 2.07. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Albemarle Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 09, 2024. While these analysts kept the previous recommendation, TD Cowen dropped their target price from $220 to $130. The new note on the price target was released on January 29, 2024, representing the official price target for Albemarle Corp. stock. Previously, the target price had yet another drop from $155 to $135, while Deutsche Bank kept a Hold rating on ALB stock. On December 12, 2023, analysts decreased their price target for ALB shares from 154 to 149.
The Average True Range (ATR) for Albemarle Corp. is set at 6.38, with the Price to Sales ratio for ALB stock in the period of the last 12 months amounting to 1.68. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 7.58.
ALB Stock Performance Analysis:
Albemarle Corp. [ALB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.64. With this latest performance, ALB shares gained by 14.58% in over the last four-week period, additionally sinking by -30.29% over the last 6 months – not to mention a drop of -45.79% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALB stock in for the last two-week period is set at 66.13, with the RSI for the last a single of trading hit 74.50, and the three-weeks RSI is set at 60.46 for Albemarle Corp. [ALB]. The present Moving Average for the last 50 days of trading for this stock 127.27, while it was recorded at 128.13 for the last single week of trading, and 166.71 for the last 200 days.
Insight into Albemarle Corp. Fundamentals:
Albemarle Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 1.47.
ALB Stock EPS
With the latest financial reports released by the company, Albemarle Corp. posted 10.32/share EPS, while the average EPS was predicted by analysts to be reported at 7.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 46.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ALB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Albemarle Corp. go to -8.76%.
Albemarle Corp. [ALB] Institutonal Ownership Details
The top three institutional holders of ALB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ALB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ALB stock with ownership which is approximately 5.8325%.
